SITIME Corp (SITM): Results of Operations and Financial Condition
SITIME Corp (SITM) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 SiTime Reports Second Quarter 2026 Financial Results Q2 Net Revenue Increased 127% to $157.4 Million SANTA CLARA, Calif., August 5, 2026 – SiTime Corporation, (Nasdaq: SITM), the Precision Timing company, today announced financial results for the second quarter ended
How this was made
The 30-second read
Why it matters
The newest actionable information is the quantified Q2 performance (revenue, margins, GAAP and non-GAAP earnings) and confirmation that the Renesas timing-business acquisition closed July 1, alongside cash and financing details. The earnings call is scheduled the same day, which can add incremental guidance not present in the filing text.
Market read
Q2 results show a step-change in revenue growth and strong gross margin, with acquisition completion providing a near-term growth narrative ahead of the scheduled call.
What to watch
The filing notes acquisition funding via convertible senior notes and RSU inducement grants; traders may focus on potential dilution/financing costs and any customer concentration or ramp timing not captured here.
Q2 Net Revenue Increased 127% to $157.4 Million
Second-quarter revenue increased 127% year over year to $157.4 million, non-GAAP gross margin reached 67.1%, and SiTime reported GAAP and non-GAAP net income.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended June 30, 2026GAAP | $157,432 (in thousands) | – | 127% |
| Cost of revenue, three months ended June 30, 2026GAAP | 58,290 (in thousands) | – | – |
| Gross profit, three months ended June 30, 2026GAAP | 99,142 (in thousands) | – | – |
| Gross margin, three months ended June 30, 2026GAAP | 63.0% | – | – |
| Research and development expenses, three months ended June 30, 2026GAAP | 36,117 (in thousands) | – | – |
| Selling, general and administrative expenses, three months ended June 30, 2026GAAP | 46,301 (in thousands) | – | – |
| Acquisition related costs, three months ended June 30, 2026GAAP | 8,509 (in thousands) | – | – |
| Total operating expenses, three months ended June 30, 2026GAAP | 90,927 (in thousands) | – | – |
| Income (loss) from operations, three months ended June 30, 2026GAAP | 8,215 (in thousands) | – | – |
| Interest income, three months ended June 30, 2026GAAP | 12,545 (in thousands) | – | – |
| Interest expense, three months ended June 30, 2026GAAP | (2,247) (in thousands) | – | – |
| Other (expense) income, net, three months ended June 30, 2026GAAP | (317) (in thousands) | – | – |
| Income (loss) before income taxes, three months ended June 30, 2026GAAP | 18,196 (in thousands) | – | – |
| Income tax expense, three months ended June 30, 2026GAAP | (40) (in thousands) | – | – |
| Net income (loss), three months ended June 30, 2026GAAP | $18,156 (in thousands) | – | – |
| Net income (loss) per share attributable to common stockholders, basic, three months ended June 30, 2026GAAP | $0.69 | – | – |
| Net income (loss) per share attributable to common stockholders, diluted, three months ended June 30, 2026GAAP | $0.66 | – | – |
| Weighted-average shares used to compute basic net income (loss) per share, three months ended June 30, 2026GAAP | 26,450 (in thousands) | – | – |
| Weighted-average shares used to compute diluted net income (loss) per share, three months ended June 30, 2026GAAP | 27,490 (in thousands) | – | – |
| Gross profit, three months ended June 30, 2026non-GAAP | $105,585 (in thousands) | – | – |
| Gross margin, three months ended June 30, 2026non-GAAP | 67.1% | – | – |
| Research and development expenses, three months ended June 30, 2026non-GAAP | $25,616 (in thousands) | – | – |
| Operating expenses, three months ended June 30, 2026non-GAAP | $52.1 million | – | – |
| Income from operations, three months ended June 30, 2026non-GAAP | $53.5 million | – | – |
| Net income, three months ended June 30, 2026non-GAAP | $65.6 million | – | – |
| Net income per diluted share, three months ended June 30, 2026non-GAAP | $2.34 per diluted share | – | – |
| Revenue, six months ended June 30, 2026GAAP | $270,999 (in thousands) | – | – |
| Cost of revenue, six months ended June 30, 2026GAAP | 104,902 (in thousands) | – | – |
| Gross profit, six months ended June 30, 2026GAAP | 166,097 (in thousands) | – | – |
| Research and development expenses, six months ended June 30, 2026GAAP | 68,854 (in thousands) | – | – |
| Selling, general and administrative expenses, six months ended June 30, 2026GAAP | 85,237 (in thousands) | – | – |
| Acquisition related costs, six months ended June 30, 2026GAAP | 16,129 (in thousands) | – | – |
| Total operating expenses, six months ended June 30, 2026GAAP | 170,220 (in thousands) | – | – |
| Loss from operations, six months ended June 30, 2026GAAP | (4,123) (in thousands) | – | – |
| Interest income, six months ended June 30, 2026GAAP | 19,854 (in thousands) | – | – |
| Interest expense, six months ended June 30, 2026GAAP | (2,247) (in thousands) | – | – |
| Other (expense) income, net, six months ended June 30, 2026GAAP | (492) (in thousands) | – | – |
| Income (loss) before income taxes, six months ended June 30, 2026GAAP | 12,992 (in thousands) | – | – |
| Income tax expense, six months ended June 30, 2026GAAP | (53) (in thousands) | – | – |
| Net income (loss), six months ended June 30, 2026GAAP | $12,939 (in thousands) | – | – |
| Net income (loss) per share attributable to common stockholders, basic, six months ended June 30, 2026GAAP | $0.49 | – | – |
| Net income (loss) per share attributable to common stockholders, diluted, six months ended June 30, 2026GAAP | $0.47 | – | – |
| Weighted-average shares used to compute basic net income (loss) per share, six months ended June 30, 2026GAAP | 26,397 (in thousands) | – | – |
| Weighted-average shares used to compute diluted net income (loss) per share, six months ended June 30, 2026GAAP | 27,335 (in thousands) | – | – |
What drove it
- Revenue increased 127% year over year to $157.4 million.
- Every segment grew by at least 50%, according to Rajesh Vashist.
- CED grew by 181%, according to Rajesh Vashist.
- On July 1, 2026, SiTime completed the acquisition of Renesas' Timing Business, adding over 550 clocking products to its portfolio.
Concerns
- GAAP acquisition related costs were $8,509 (in thousands) in the second quarter of 2026.
- Interest expense was $(2,247) (in thousands) in the second quarter of 2026.
- The release states that financial information reflects estimates and could differ materially from reported amounts in SiTime’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.
What to watch
- Management said it plans to discuss its business outlook as part of the scheduled conference call, but the filing text does not provide quantitative guidance.
- Execution following the July 1, 2026 acquisition of Renesas' Timing Business.
- Growth in CED and the other end-market segments, for which the filing provides no segment revenue amounts.
Balance sheet and cash flow
- Total cash, cash equivalents and short-term investments were $1,921 million on June 30, 2026.
- The balance includes net proceeds from the convertible senior notes offering that were used to fund the acquisition of certain assets from Renesas Electronics Corporation which was completed on July 1, 2026.
Analysis
SiTime reported second-quarter revenue of $157.4 million, up 127% year over year from $69.5 million. The statement of operations reports revenue of $157,432 (in thousands), compared with $113,567 (in thousands) in the prior quarter and $69,494 (in thousands) in the year-ago quarter. Management stated that every segment grew by at least 50% and that CED grew by 181%, although the filing text does not provide segment revenue amounts.
Gross profitability improved in both reported presentations. GAAP gross margin was 63.0%, compared with 59.0% in the prior quarter and 51.9% in the year-ago quarter. Non-GAAP gross margin was 67.1%, compared with 64.5% and 58.2%, respectively. GAAP gross profit was $99,142 (in thousands), while non-GAAP gross profit was $105,585 (in thousands).
GAAP total operating expenses were $90,927 (in thousands), including $8,509 (in thousands) of acquisition related costs. The company reported GAAP income from operations of $8,215 (in thousands), following a GAAP loss from operations of $(12,339) (in thousands) in the prior quarter and $(24,611) (in thousands) in the year-ago quarter. GAAP net income was $18,156 (in thousands), or $0.66 per diluted share, while non-GAAP net income was $65.6 million, or $2.34 per diluted share.
For the six months ended June 30, 2026, SiTime reported revenue of $270,999 (in thousands) and net income of $12,939 (in thousands). The six-month statement also reported a loss from operations of $(4,123) (in thousands), alongside $16,129 (in thousands) of acquisition related costs. Interest income was $19,854 (in thousands) and interest expense was $(2,247) (in thousands) for the six-month period.
Total cash, cash equivalents and short-term investments were $1,921 million on June 30, 2026. The company said this balance included net proceeds from a convertible senior notes offering used to fund the acquisition of certain assets from Renesas Electronics Corporation, completed on July 1, 2026. Management did not provide quantitative forward guidance in the filing text, stating instead that it planned to discuss its business outlook on the scheduled conference call.
Management, verbatim
SiTime delivered exceptional results in the second quarter, with revenue increasing 127% year over year to $157.4 million and gross margin of 67.1%.
Rajesh Vashist, chairman and CEO of SiTime
While every segment grew by at least 50%, CED grew by 181%.
Rajesh Vashist, chairman and CEO of SiTime
Only SiTime offers the full breadth of Precision Timing solutions — and that unmatched capability is accelerating our industry leadership across every end market we serve.
Rajesh Vashist, chairman and CEO of SiTime
Not in the filing
stated, not guessed- Quantitative forward revenue, gross margin, operating expense, tax rate, or other guidance
- Previous-quarter or year-ago comparisons for reported non-GAAP operating expenses, income from operations, net income, and diluted EPS
- Segment revenue amounts and segment-specific revenue comparisons
- Operating cash flow
- Free cash flow
- Debt balance and convertible senior notes offering proceeds
- Share repurchases
- Dividends
- Complete non-GAAP reconciliation below the truncated selling, general and administrative expense section of the supplied filing text
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC 8-K (Item 2.02) attaching SiTime’s Q2 2026 results and related disclosures, including acquisition context from Renesas’ timing business.
Ticker impact
SiTime reported Q2 2026 net revenue of $157.4M, up 127% YoY, and disclosed $1.921B cash plus Renesas timing-business acquisition funding.
Likely positive bias for the stock into the earnings call, with volatility around any outlook details not included in the filing.
The filing provides fresh, quantified results (revenue, margins, GAAP and non-GAAP earnings) and confirms acquisition completion on July 1, plus cash levels and financing source. However, forward guidance specifics are not included in the scraped text, limiting precision on magnitude/duration of impact.
Market effects
Could support sentiment for precision timing and MEMS timing peers by signaling demand strength and successful tuck-in expansion.
Limited, as the disclosure is company-specific to SiTime in Santa Clara.
Moderate, since timing components are used across industrial, automotive, and data-center equipment, but the article is not a cross-market macro catalyst.
Counterpoint
Non-GAAP profitability is boosted by acquisition-related accounting exclusions; investors may discount sustainability until management provides detailed outlook and integration milestones.
Key entities
- issuerSiTime Corporation
Precision timing company reporting Q2 2026 results and discussing acquisition completion and financial position.
- counterpartyRenesas Electronics Corporation
Seller of the timing business whose assets were acquired by SiTime, completed July 1, 2026.
